Q&A: What Do the New Tax Regs Mean for Partnerships and LLCs?

On June 14, 2017, the IRS re-released proposed regulations on its new centralized partnership regime, which will have widespread impact on partnerships and LLCs when they come into effect at the beginning of next year. In a recent Q&A with GlobeSt, CGS3 partner and tax chair Phil Jelsma discussed the how and why of the new regulations, as well as key points for those wishing to opt out.